EBRD Allocates First Syndicated Loan for Kazakhstan Microfinance Group

Print
 
Apr 2019
Kazakhstan, April, 18 2019 - Micro, small and medium-sized companies in Kazakhstan will benefit from a syndicated loan of up to $ 50 million arranged by the EBRD for the country’s largest micro-finance organization, KMF, Trend reports with reference to EBRD.

Up to $10 million to be provided by EBRD while the remaining $40 million will be syndicated to microfinance investment funds: IIV Mikrofinanzfonds; BlueOrchard Microfinance Fund; Microvest Short Duration Fund, LP; Incofin CVSO; Triple Jump B.V.; Monega Multi-Sector Microfinance & Impact Loan Fund; Microfinance Enhancement Facility S.A., SICAV-SIF; funds managed by responsAbility Investments AG; and Bank im Bistum Essen eG.

While the funds will be committed in US dollars, the EBRD will be providing the loan to KMF in Kazakhstan tenge using a cross-currency swap. This will help protect KMF, the participating investment funds and sub-borrowers from FX-related risks.

KMF, which operates 14 branches and 100 outlets across Kazakhstan, provides financial services to over 220,000 customers across the country. It has been a partner of the EBRD since 2005.

Under the new loan KMF will continue benefit from the EU-funded Regional Small Business Programme (RSBP) for Central Asia managed by the EBRD. It will receive access to know-how in MSME finance as well as training on a variety of topics relevant for financial institutions providing services to micro, small and medium-sized enterprises.

To date, the EBRD has invested a total of over $8.85 billion in the economy of Kazakhstan through 254 projects.

Over the years, KMF has become one of the leaders in the microfinance sector among the post-Soviet countries of the Central Asian region. Today KMF is the largest microfinance organization in Kazakhstan.

The company is focused on building long-term partnerships with customers based on mutual trust, understanding and respect. KMF provides customers with individual and group loans for the following activities: business, arable and livestock farming, production of goods, provision of services and customer credit.



Source : AzerNews
 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More